Mr. Buchanan
introduced the following joint resolution; which was referred to the
Committee on the
Judiciary

JOINT RESOLUTION

Proposing an amendment to the Constitution
of the United States relative to balancing the budget.

That the following article is
proposed as an amendment to the Constitution of the United States, which shall
be valid to all intents and purposes as part of the Constitution when ratified
by the legislatures of three-fourths of the several States within seven years
after the date of its submission for ratification:

—1.

Total outlays for any fiscal
year shall not exceed total receipts for that fiscal year, unless two-thirds of
the duly chosen and sworn Members of each House of Congress shall provide by
law for a specific excess of outlays over receipts by a roll call vote.

2.

Total outlays for any fiscal
year shall not exceed 18 percent of the gross domestic product of the United
States for the calendar year ending before the beginning of such fiscal year,
unless two-thirds of the duly chosen and sworn Members of each House of
Congress shall provide by law for a specific amount in excess of such 18
percent by a roll call vote.

3.

Prior to each fiscal year, the
President shall transmit to the Congress a proposed budget for the United
States Government for that fiscal year in which—

(1)

total outlays do not exceed total receipts;
and

(2)

total outlays do not exceed 18 percent of
the gross domestic product of the United States for the calendar year ending
before the beginning of such fiscal year.

4.

Any bill that imposes a new tax
or increases the statutory rate of any tax or the aggregate amount of revenue
may pass only by a two-thirds majority of the duly chosen and sworn Members of
each House of Congress by a roll call vote. For the purpose of determining any
increase in revenue under this section, there shall be excluded any increase
resulting from the lowering of the statutory rate of any tax.

5.

The limit on the debt of the
United States shall not be increased, unless three-fifths of the duly chosen
and sworn Members of each House of Congress shall provide for such an increase
by a roll call vote.

6.

The Congress may waive the
provisions of sections 1, 2, 3, and 5 of this article for any fiscal year in
which a declaration of war against a nation-state is in effect and in which a
majority of the duly chosen and sworn Members of each House of Congress shall
provide for a specific excess by a roll call vote.

7.

The Congress may waive the
provisions of sections 1, 2, 3, and 5 of this article in any fiscal year in
which the United States is engaged in a military conflict that causes an
imminent and serious military threat to national security and is so declared by
three-fifths of the duly chosen and sworn Members of each House of Congress by
a roll call vote. Such suspension must identify and be limited to the specific
excess of outlays for that fiscal year made necessary by the identified
military conflict.

8.

No court of the United States
or of any State shall order any increase in revenue to enforce this
article.

9.

Total receipts shall include
all receipts of the United States Government except those derived from
borrowing. Total outlays shall include all outlays of the United States
Government except those for repayment of debt principal.

10.

The Congress shall have power
to enforce and implement this article by appropriate legislation, which may
rely on estimates of outlays, receipts, and gross domestic product.

11.

This article shall take effect
beginning with the fifth fiscal year beginning after its
ratification.